Entech Acquires AppWorks™ Platform to Drive Disruption in the Student Loan Market
Move comes as banks and credit unions jump back into student lending.
Malvern, PA, October 20, 2015 (Newswire.com) - Entech, the world’s leading provider of Continuous Engagement solutions, announced today that it has acquired All1Team, the San Dimas California maker of the AppWorks Platform, a prominent consumer and student loan origination solution with extensive features for student lending and refinancing.
“The acquisition of All1Team is a natural progression for Entech.” said, Jeffrey Milne, CEO of Entech. “The student loan industry is growing and ripe for disruption. We are combining the AppWorks Platform with our Continuous Engagement portfolio to help customers capitalize on the opportunity.”
Lenders are turning to the private student loan market to find new, young customers, establish relationships with them, and over time sell more lucrative loans and financial services. According to MeasureOne, a San Francisco based firm that tracks the student loan industry, “Private student loans for undergraduates and graduates attending college totaled just over $6.7 billion for the 2014-15 academic year, up 14 percent and the third consecutive increase since the market bottomed out in 2010-11.”
The acquisition of All1Team is a natural progression for Entech. The student loan industry is growing and ripe for disruption. We are combining the AppWorks Platform with our Continuous Engagement portfolio to help customers capitalize on the opportunity.
The AppWorks platform gives Entech an end-to-end loan solution that streamlines the lending process with completely configurable features for each stage in the loan lifecycle. For student lending, it includes a web portal for school certifications and disbursements, plus integrations to all major loan servicers and industry trading partners. AppWorks will be integrated with other Entech products that provide advanced Omni-channel delivery and automated loan rate management.
The All1Team executive team of Cheri DeBlasio, Chief Executive Officer, and Doug Hawks, Executive Vice President will be joining Entech. Both are industry veterans that bring over 25 years of experience and expertise guiding banks, credit unions, and other financial institutions entering the student loan space or expanding their current operations.
“The student loan industry is looking for systems transformation, and the combination of Entech and All1Team is a perfect fit. It creates a fully integrated solution with advanced software, veteran expertise, and innovative delivery capabilities.” said Cheri DeBlasio, CEO of All1Team.
To learn more go to: www.entech.com/appworks
All1Team, Inc., headquartered in San Dimas, CA is a software development and systems integration company with extensive expertise in developing and managing web based business applications in the consumer finance and student loan financial service industries.
Entech is a global software, systems integration, and resource management solution provider. Entech helps its clients acquire customers, connect their enterprise, and extend their business opportunities with solutions based on the Continuous Engagement Model – a holistic framework for customer centered business technology.